At the end of 2022, the following information is available for Great Adventures. Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Assume that $13.800 of the $33.800 loan discussed above is due next year. . By the end of the year. $20,000 in gift cards have been redeemed. The company had sold gift cards of $28,800 during the year and recorded those as Deferred Revenue. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $15,800. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $7,800. Requirement Income General Journal General Ledger Trial Balance Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) poed View transaction list Book Journal entry worksheet 2 3 4 5 6 7 Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 : Record entry Clear entry View general Journal Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that a interest is paid each July 31. Assume that $13,800 of the $33,800 loan discussed above is due next year. . By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $28,800 during th recorded those as Deferred Revenue. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company be the likelihood of payment occurring is probable, and the estimated amount to be paid is $15,800. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the compa estimates future warranty costs to be $7,800. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the Trial Balance' as of December 31, 2022, in the Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31, 2022, in the 'Income Statement tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal tab. General Journal > Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet poed Prepare an income statement for the period ended December 31, 2022. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted - GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Net Sales Gross Profit Operating Expenses Net Sales MS Gross Profit Operating Expenses: 1. TTTTT 1 / Total Operating Expenses Operating Income (Loss) / / / / Dom / / . / / Income Before Income / / / Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted - GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets Current Liabilities: Total Current Liabilities - Total Current Assets Total Liabilities Long-term Assets: Stockholders' Equity Total Stockholders' Equity Total Assets Total Liabilities and Stockholders'Equity At the end of 2022, the following information is available for Great Adventures. Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Assume that $13.800 of the $33.800 loan discussed above is due next year. . By the end of the year. $20,000 in gift cards have been redeemed. The company had sold gift cards of $28,800 during the year and recorded those as Deferred Revenue. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $15,800. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $7,800. Requirement Income General Journal General Ledger Trial Balance Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) poed View transaction list Book Journal entry worksheet 2 3 4 5 6 7 Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 : Record entry Clear entry View general Journal Additional interest for five months needs to be accrued on the $33,800, 6% loan obtained on August 1, 2021. Recall that a interest is paid each July 31. Assume that $13,800 of the $33,800 loan discussed above is due next year. . By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $28,800 during th recorded those as Deferred Revenue. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company be the likelihood of payment occurring is probable, and the estimated amount to be paid is $15,800. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the compa estimates future warranty costs to be $7,800. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the Trial Balance' as of December 31, 2022, in the Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31, 2022, in the 'Income Statement tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal tab. General Journal > Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet poed Prepare an income statement for the period ended December 31, 2022. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted - GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Net Sales Gross Profit Operating Expenses Net Sales MS Gross Profit Operating Expenses: 1. TTTTT 1 / Total Operating Expenses Operating Income (Loss) / / / / Dom / / . / / Income Before Income / / / Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted - GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets Current Liabilities: Total Current Liabilities - Total Current Assets Total Liabilities Long-term Assets: Stockholders' Equity Total Stockholders' Equity Total Assets Total Liabilities and Stockholders'Equity